DUBLIN, Feb. 8, 2024 /PRNewswire/ — The “US Residential HVAC Market – Focused Insights 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The latest comprehensive research on the U.S. residential HVAC (Heating, Ventilation, and Air Conditioning) market showcases robust growth driven by the surge in eco-friendly solutions and implementation of smart technologies. The study, offering a detailed forecast for 2023-2028, underlines significant consumer shifts toward energy-efficient and intelligent home systems.
With a valuation of USD 16.43 billion in 2023, the market is predicted to escalate at a steady CAGR of 3.23% over the forecast period. The analysis touches upon the pivotal role of climatic variations in dictating the types of equipment in demand and notes the concerted efforts of leading players to forge strategic partnerships, targeting innovation and market presence.
Technological advancements, alongside a growing conscientiousness toward indoor air quality, are shaping product development and customer preferences. The push for energy-efficient heating equipment and the rising adoption of Variable Refrigerant Flow (VRF) systems are indicative of a market eager to embrace sustainability without compromising comfort or convenience.
Key Market Dynamics and Insights
- The heating sector leads the market with a dominant share, with furnace heating systems projecting the highest growth rate.
- The air conditioning sector flourishes with Residential Air Conditioners (RACs) leading the segment across the market.
- Ventilation innovations, particularly air filter products, are anticipated to reach significant market value, enhancing air quality in residential spaces.
- The Southern U.S. remains the largest shareholder in the market, with robust household incomes and construction trends fueling HVAC adoption.
Competitive Landscape
Analysis of the competitive framework reveals a market predominantly led by stalwarts like Carrier, Daikin, Johnson Controls, Rheem Manufacturing, and Lennox International. These key players, along with an array of prominent vendors, are progressing towards products that complement the smart and sustainable ethos of modern living spaces.
Regional Key Points
- South: With the highest household count, this region leads the market, propelled by new construction and rising incomes.
- West, Midwest, and Northeast: These areas exhibit substantial growth, with a keen focus on energy-efficient HVAC systems and improved air quality.
This intriguing research provides crucial answers to fundamental questions regarding market size, region dominance, main players, and growth drivers in the U.S. residential HVAC sector. It serves as an essential guide for stakeholders, investors, and participants looking to understand the evolving landscape and seize the transformative opportunities on the horizon.
Segmentation and Forecast Highlights: The report intricately segments the market by equipment revenue, such as Heating (Heat Pumps, Boiler Units, Furnaces), Air Conditioning (RACs, CACs, Chillers), and Ventilation (Air Handling Units, Air Filters), along with detailed regional analysis.
For those keen on comprehending the U.S. residential HVAC market’s dynamics, this report stands as a substantial source of information, thoroughly exploring the market structure, competitive landscape, and key growth trajectories.
A selection of companies mentioned in this report includes
- Excel Dryer
- Mitsubishi Electric
- Mediclinics
- TOTO
- Rexnord
- Alpine Industries
- ASI Group
- Askon Hygiene Products
- ATC
- Bobrick Washroom Equipment
- Biodrier
- Bradley Corporation
- Comac Corporation
- DAN DRYER
- Dolphy
- Dolphin Solutions
- Dyson
- ELECTROSTAR
- Euronics Industries
- Hokwang Industries
- Jaquar Group
- JVD
- Kohler
- MAYLERESCAPE
- Novatech Automatic Systems
- Palmer Fixture
- SPL
- STIEBEL ELTRON
- Sloan Valve Company
- TaiShan Jie Da Electrical
- Taizhou Dihour Electrical Appliances
- Techwin Electronics
- Tekflo
- Toshi Automation Solutions
- Vortex Industries
- Veltia
- ZheJiang MoDun Sanitary Ware
For more information about this report visit https://www.researchandmarkets.com/r/917ki
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SOURCE Research and Markets
